Hamet Watt, co-founder of MoviePass, is moving forward from the company’s significant downfall by launching a new venture studio aimed at developing and funding startups. Watt has been actively working on Share Ventures, which has successfully raised nearly $20 million with financial support from notable backers including Alphabet and Amazon. This new initiative targets startups focused on the future of work and longevity sectors.
Watt believes that the current landscape, influenced by the rise of artificial intelligence and elevated interest rates, offers an opportunity for a unique venture capital model. Share Ventures plans to create its own software and employ sophisticated language models to streamline its operations. He noted that smaller fund sizes can yield faster insights into investment opportunities, allowing for the development of new companies using cutting-edge tools.
He highlighted that while many venture firms are investing in emerging technologies, few are fully integrating and utilizing them in their operations. Watt’s focus on employing innovative data and automation sets Share Ventures apart.
Watt’s interest in health and longevity was sparked by the loss of his mother at a young age, which significantly shaped his perspective on mortality and health. His experience with MoviePass, which he reflected on in the documentary “MoviePass, MovieCrash,” has only strengthened his resolve to innovate further in the startup space. He expressed a desire to embrace the possibility of failure as part of the pursuit of success.